“The proliferation of trade agreements will lead to an increased
demand for fuel, which, in turn, will lead to the opening of many more
gas stations across the globe. This will further drive the demand for
gas station equipment during the forecast period”

The market study covers the present scenario and growth prospects of the
global gas
station equipment marketfor 2017-2021. The report
presents a comprehensive analysis of the top vendors in the market along
with a forecast of the emerging trends and drivers, which are likely to
impact the market during the forecast period.

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Technavio’s analysts highlight the following three market drivers that
are contributing to the growth of the global gas station equipment
market:

Increased number of gas stations

Increased inbound and outbound tourism

Increased national and international transportation

Increased number of gas stations

Increasing disposable income in various regions is encouraging the sale
of cars, trucks, and other vehicles globally. In 2015, in Asia, the
sales of new vehicles increased by 21%. In China, the sales volume of
new vehicles increased by 32%. This has increased the number of fuel
stations globally.

Moreover, with increased focus on environment preservation and green
technology, the demand for alternative fuels like compressed natural
gas (CNG), hydrogen,
and others has also increased. Hence, the number of gas stations with
alternate fuel dispensing machines is increasing globally, which emerges
as a positive development for the gas station equipment market.

Increased inbound and outbound tourism

There has been a significant growth in the global travel and tourism
industry. Increased disposable income and easy accessibility to
information on various places, hotels, flights, trains, and bus bookings
through the internet are enabling many middle-class people to explore
new tourist destinations. This has increased the competition among
travel agents worldwide, which, in turn, reduced the price of tour and
travel packages. Increased tourism has also escalated the demand for transportation
services globally. This has ultimately impacted the demand for
fuel and fuel stations.

Increased national and international transportation

The global logistics market is expected to grow at a rapid pace during
the forecast period. The growth is mainly driven by the increase in import
and export activities. Companies in major countries like the US, the
UK, Germany, and China are outsourcing manufacturing to countries where
lower costs are incurred. These countries have also recorded an increase
in domestic consumption.

The resurgence of the global economy has resulted in increased trade
volumes between countries. The growing number of imports and exports
between nations has lowered trade barriers because of the relaxation of
government trade policies.

“The proliferation of trade agreements will lead to an increased
demand for fuel, which, in turn, will lead to the opening of many more
gas stations across the globe. This will further drive the demand for
gas station equipment during the forecast period,” says Abhay.

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research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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